Moody’s affirms Lifestyle International Holdings’ Baa3 rating on announcement of spin-off

Moody’s Investors Service has affirmed Lifestyle International Holdings Limited’s (Lifestyle) Baa3 issuer rating.

At the same time, Moody’s has affirmed the Baa3 senior unsecured debt ratings on the notes issued by LS Finance (2017) Limited, LS Finance (2022) Limited and LS Finance (2025) Limited. These notes are guaranteed by Lifestyle. A full list of the ratings affected can be found at the end of this press release.

The ratings outlook remains stable.

The rating affirmations follow Lifestyle’s announcement on 22 April 2016 that it had submitted to the Hong Kong Stock Exchange a proposal to spin-off and separately list Lifestyle China Group, which will be principally engaged in businesses operating in China (Aa3 negative), namely, department stores, supermarkets and restaurants. Read more…

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